by The Monofilament Fishing Line Market is estimated to be valued at US$ 382.4 million in 2023 and is expected to exhibit a CAGR of 4% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Monofilament fishing line is a single-strand fishing line made from nylon or other similar synthetic fibers. These lines are known for their high strength, low-to-zero memory, and excellent knot strength, making them popular among recreational and professional anglers. Monofilament fishing lines are widely used in various fishing techniques such as trolling, casting, and bottom fishing. The primary use case of monofilament fishing lines is in the sportfishing industry, for catching species such as bass, trout, and salmon.
Market Dynamics:
The growth of the Global Monofilament Fishing Line Market can be attributed to two main drivers. Firstly, the increasing popularity of recreational activities such as sportfishing and angling is fueling the demand for high-quality fishing lines. Additionally, the advancements in material technology have led to the development of monofilament fishing lines with enhanced strength, durability, and sensitivity, catering to the specific requirements of anglers. These factors are expected to drive the growth of the Monofilament Fishing Line Market during the forecast period.
SWOT Analysis
Strength: The Monofilament Fishing Line Market is driven by its high durability, excellent strength-to-diameter ratio, and low visibility underwater. It is also widely available and relatively affordable compared to other types of fishing lines.
Weakness: One weakness of the Monofilament Fishing Line Market is its lower abrasion resistance compared to other fishing lines, which may result in increased wear and breakage. Another weakness is its susceptibility to UV degradation and water absorption, which can reduce its overall lifespan.
Opportunity: The Monofilament Fishing Line Market has the opportunity to grow further due to the increasing popularity of recreational fishing activities and the rising demand for high-performance fishing lines. Additionally, advancements in technology have led to the development of enhanced monofilament lines with improved strength and durability.
Threats: The Monofilament Fishing Line Market faces threats from the growing competition from alternative fishing lines such as fluorocarbon and braided lines, which offer superior abrasion resistance and strength. Another threat is the increasing concern for environmental sustainability, as monofilament lines can have detrimental effects on marine ecosystems when not properly disposed of.
Key Takeaways
The Global Monofilament Fishing Line Market Size is expected to witness high growth, exhibiting a CAGR of 4% over the forecast period 2023-2030, due to increasing recreational fishing activities and advancements in monofilament line technology.
Regionally, North America is the fastest-growing and dominating region in the Monofilament Fishing Line Market, driven by the presence of a large fishing community, the popularity of sport fishing, and the availability of a wide variety of fishing line products.
Key players operating in the Monofilament Fishing Line Market include Berkley Fishing, Sufix Fishing Line, PowerPro, Spiderwire, Stren Fishing Line, Ande Monofilament, Seaguar, Momoi Fishing Line, Daiwa Corporation, Shimano Fishing, Rapala Fishing Line, P-Line, Yo-Zuri Fishing, Sunline, and YGK Fishing Line.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
